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Damanat, Contributing to a Brighter Housing Future

Damanat

The Saudi Mortgage Guarantees Services Company “Damanat”

“Damanat” was launched in 2017 as an initiative by the Housing Program in the Kingdom of Saudi Arabia. Continuing its efforts in supporting the program’s objectives, Damanat has become an independent institutional entity that provides innovative products and solutions in mortgage guarantee services.

The core mission of Damanat is to empower Saudi citizens by providing tailored mortgage guarantees, designed specifically to expand the accessibility and inclusiveness of the mortgage market, thereby facilitating homeownership. Damanat operates within the housing ecosystem and aligns with the Kingdom’s objective of increasing homeownership by 2030. Additionally, it aims to support the real estate development sector by creating new housing projects and providing fair and comprehensive mortgage financing options for beneficiaries, thus bridging the gap between supply and demand in the housing real estate sector and contributing to societal stability.

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Our Mission

Providing mortgage guarantee solutions and products to support the real estate development and financing ecosystem.

Our Vision

Enable access to mortgage financing within the housing ecosystem.

Our Values

Transparency, Innovation, and Collaboration.

Get to Know Our Team Members

Board Directors

Mr. Hani Almedaini
Deputy Chairman of the Board of Directors
Mr. Hashem Alhekail
Member of the Board of Directors
Mr. Faisal Alsaggaf
Member of the Board of Directors
Mr. Khalid Shareef
Member of the Board of Directors

Executive Management

Osama Al-Othman
Chief Executive Officer (CEO)
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Amer Al-Hashemi
Chief Financial Officer (CFO)
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Ihab Al-Dabbagh
Chief Business Development Officer (CBDO)
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Thamer Youssef
Chief Operating Officer (COO)
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Yousef Al-Farsi
Chief Human Resources and Administrative Officer (CHRO)
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Abdulrahman Al-Shammari
Chief Compliance Officer (CCO)
About Me
Rowaid Ajaj
Chief Risk Officer (CRO)
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Our Values

Our commitment to our values is the key to our success

Damanat prides itself on a set of values that guide our work with our partners, customers, and stakeholders. Those are:

Innovation

We develop new solutions that keep pace with the aspirations of the housing market and meet citizens’ needs.

Transparency

We are committed to transparency and integrity in all aspects of our work

Collaboration

We work with our partners in the housing ecosystem to enhance integration and achieve national impact.

Our commitment to these values helps us achieve our mission to provide innovative solutions within the housing system and facilitate ownership by supporting individuals and companies.

Alignment with Vision 2030

The launch of “Damanat” is one of the key initiatives within the Housing Program, reflecting a practical commitment to supporting the objectives of Saudi Vision 2030, particularly the goal of increasing homeownership among citizens, by enabling Saudi families to access effective financing solutions to own suitable housing.

Board Directors

Get to know the board Directors of Damanat

Mansour bin Said bin Madi
Chairman of Board of Directors
Hani bin Medina Medina
Deputy Chairman of the Board of Directors
Khalid bin Ibrahim Shareef
Member of the Board of Directors
Hashem bin Othman Al-Haqeel
Member of the Board of Directors
Faisal bin Omar Al-Saqqaf
Member of the Board of Directors

CEO Message

We at Damanat recognize our national role in achieving the Kingdom’s Vision 2030 goals within the housing sector, contributing to creating a sustainable housing environment.

Aligned with the objectives of Saudi Arabia’s Vision 2030, and driven by the significant attention from our wise leadership that places people at the forefront, we at the Saudi Mortgage Guarantee Services Company “Damanat” recognize our national role in fulfilling the Kingdom’s vision, especially within the housing sector. We contribute to creating a sustainable housing environment that aligns with global developments.

Our vision at Damanat focuses on empowering a broader segment of citizens to own suitable homes, guided by our mission derived from the objectives of the Housing Program, which aims to raise homeownership rates among Saudi families by 2030. To achieve this, we at Damanat follow an integrated strategy that enhances innovative solutions and products by providing guarantees that facilitate citizen financing, supporting the housing ecosystem, stimulating investment opportunities in the housing sector by attracting foreign investments, and developing products tailored to market needs.

At Damanat, we aspire to become an active contributor in building the future of housing in the Kingdom by innovating flexible financing solutions and guarantees, empowering citizens, and ensuring sustainability in the real estate market.

Osama Abdul Latif Al-Othman

CEO

Abdulrahman Al-Shammari

Chief Compliance Officer

Experience:

Extensive experience in governance, risk management, compliance, and board affairs.

Key Previous Roles:

Held the position of Chief Governance, Risk, and Compliance Officer and Secretary-General of the Board of Directors at Asir Investment Company, overseeing the establishment of corporate governance, risk management, and compliance functions. Also held leadership positions at the General Entertainment Authority, Ministry of Culture, and the National Housing Company, specifically in governance, compliance, and board affairs.


Current Role at Damanat:

Oversees compliance to ensure organizational adherence to all relevant laws, regulations, and policies.


Education and Qualifications:

Holds a Master’s degree in Business Administration from Flinders University, Australia, and a Bachelor’s degree in Finance from Indiana University, USA. Completed an Executive Development Program at Columbia University.

Amer Al-Hashemi

Chief Financial Officer

Experience:

More than 16 years of experience in finance and investment in real estate development, hospitality, and energy sectors.

Key Previous Roles:

He held significant roles, including Chief Financial Officer at Asir Investment Company, a subsidiary of the Public Investment Fund; Financial Director at Abu Dhabi Future Energy Company in Saudi Arabia (a subsidiary of Mubadala Investment Company); and Financial Director at ACWA Power International, along with memberships on several boards.


Current Role at Damanat:

Oversees the financial affairs of the company.


Education and Qualifications:

He holds a Master’s degree in Accounting from Victoria University in Australia, a Bachelor’s degree in International Business Administration, a diploma in Finance and Accounting from King’s College, and a Certified Financial Manager (CFM) designation.

ايهاب الدباغ

Ihab Al-Dabbagh

Chief Business Development Officer

Experience:

30+ years of experience in banking, private equity and real estate development.

Key Previous Roles:

He served as a Senior Advisor in the Housing Program and CEO of Ajmal in Residential Development Investments and led leadership positions at Saudi Hollandi Bank. An active member of the Board of Directors of several companies, he provides strategic insights and expertise in governance, executive leadership, strategy execution and business development.


Current Role at Damanat:

Lead and develop growth strategies and enhance business opportunities to increase market value and achieve long-term goals.


Education and Qualifications:

He holds a Bachelor’s degree in Marketing from King Fahd University of Petroleum and Minerals and a PRINCE2 Practitioner Certificate.

يوسف الفارسي

Yousef Al-Farsi

Chief Human Resources & Administration Officer

Experience:

He has experience in human resources and administrative affairs.

Key Previous Roles:

He served as the Head of Human Resources at Dawarat contributing to the building of HR strategy, policies and governance, and led the Human Capital Transformation Program at the Real Estate Development Fund. His career is characterized by successful transformation projects, strategic planning, and improvement of organizational performance through innovative HR strategies and effective management management.


Current Role at Damanat:

Supervises human resources and administrative affairs.


Education and Qualifications:

He holds an MBA, a Bachelor of Industrial Management, and executive certifications from prestigious universities such as Harvard Business School and London Business School.

Mr. Rowaid Ajaj

Chief Risk Officer

Experience:

Over 17 years of experience in risk management at several regulatory entities, including the Saudi Central Bank, the National Cybersecurity Authority, and the Insurance Authority in the Kingdom of Saudi Arabia. He has extensive experience in credit risks, individual and corporate financing, audit, compliance, governance, fraud risks, and business continuity Former Head of Real Estate Financing Risk at the National Commercial Bank (NCB), Chief Risk Officer at Deutsche Gulf Finance, and Secretary of the Risk Management Committee..

Key Previous Roles:

Former Head of Real Estate Financing Risk at the National Commercial Bank (NCB)

Chief Risk Officer at Deutsche Gulf Finance, and Secretary of the Risk Management Committee.


Current Role at Damanat:

Chief Risk Officer, Secretary of the Risk Management Committee Secretary of the Investment Committee.


Education and Qualifications:

Holds a Master’s degree in Business Administration a Bachelor’s degree in Engineering from a university in the United Kingdom as well as a professional diploma in anti-fraud and financial crimes.

ثامر يوسف

Thamer Yousef

Chief Operating Officer

Experience:

Over 28 years of experience in the banking sector.

Key Previous Roles:

He has held key positions including Chief Operating Officer and Chief Technology Officer at Banque Saudi Fransi, and Chief Technology Officer at Alawwal Bank, He is the Executive Director of Technical Support at the Saudi British Bank and the Saudi American Bank, in addition to chairing a number of boards of directors and participating in memberships.


Current Role at Damanat:

Supervises the day-to-day operations of the company.


Education and Qualifications:

He holds a Bachelor’s degree in Computer Engineering from King Saud University and an Executive Program from INSEAD.

أسامة العثمان

Osama Al-Othman

Chief Executive Officer

Experience:

Over 30 years of experience in investment and finance across local, regional, and international markets.

Key Previous Roles:

Held key leadership roles including Head of Mergers and Acquisitions at Abu Dhabi Future Energy Company (Masdar Project Finance Director for the Middle East and North Africa, and Country Director for Saudi Arabia at First Solar International Middle East He was also a founding member and Managing Director at Evolvence Capital. In addition he held earlier positions at the Saudi British Bank (SABB), Saudi Aramco, and Samba Financial Group.


Current Role at Damanat:

Leads the company’s overall strategic direction and operations.


Education and Qualifications:

Holds a Bachelor’s degree in Industrial Management from King Fahd University of Petroleum and Minerals and an Executive Leadership Certificate from Harvard University.